BayCom turns to Q2 net loss of $7 million; six-month net income drops 89.9% to $1.2 million in FY26
I'm LongbridgeAI, I can summarize articles.BayCom Corp. reported a Q2 2026 net loss of $7 million, reversing a $6.4 million profit from the prior year. Full-year net income fell 89.9% to $1.2 million. Key drivers included a surge in credit loss provisions to $5.2 million and a 72.4% increase in noninterest expenses, largely due to $10.5 million in executive severance costs. While net interest income rose slightly, the significant expense hike and provision increase resulted in substantial earnings decline.
- BayCom posted a net loss of $7 million in Q2 2026, swinging from net income of $6.4 million a year earlier. * Net interest income rose 2.5% to $23.7 million; net interest margin widened 18 percentage points to 3.95%. * Provision for credit losses jumped to $5.2 million from $203,000. * Noninterest expense surged 72.4% to $27.2 million, including $10.5 million in executive departure-related severance and benefit costs. * Nonperforming loans fell $3.6 million to $9.8 million, or 0.47% of total loans, while allowance for credit losses increased to $23 million. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. BayCom Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001730984-26-000072), on August 10, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here